• Is an order which is to be filled at that stated price or better. Or better means a lower than the stated price for a buy or a higher than the stated price for a sale.
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| ||Bill of lading: A contract between the exporter and a transportation company in which the latter agrees to transport the goods under specified conditions which Limit its liability. It is the exporter's receipt for the goods as well as proof that goods have been or will be received.|
| ||Buy limit order: A conditional trading order that indicates a security may be purchased only at the designated price or lower. Related: Sell Limit order.|
| ||Buy on close: To buy at the end of the trading session at a price within the closing range.Is an order to make a purchase on the close. It can be a market or Limit order.|
| ||Buy on opening: To buy at the beginning of a trading session at a price within the opening range.Is an order to make a purchase on the opening. It can be a market or Limit order.|
| ||Cap: Is the ceiling, upper Limit price, or interest rate which would be paid. It is analogous to a long call position.A Cap is a call option on interest rates. If the interest rates rise above the cap rate, then the seller compensates the buyer for the difference in interest rates times a notational amount. The cap can in effect convert floating rate liabilities into fixed rate liabilities. The cap on home mortgages is an example of an interest rate cap. A series of options in which the writer guarantees the buyer, a payor of floating, that he will pay the buyer whatever additional interest he must pay on his loan if the rate on that loan goes above an agreed rate, X.An upper Limit on the interest rate on a floating-rate note.|
| ||Related Terms|
| ||Buy limit order|
Limit order book
Sell limit order
Stop limit order
Tips for Trying to Fix a Clogged or "Frozen" Home Equity Line: For years, homeowners have turned to home equity lines of credit (HELOCs) as a way to borrow against their home's value to pay for college tuition, home improvements, medical bills and other major expenses. (A home's equity is the market value minus what is owed on the mortgage. If you owe $100,000 on your mortgage but your home is worth $250,000, your equity is $150,000.) More...